Payment Plans

# X-Flex Payment Plan

There are several X-Flex Payment Plans students can use to spread their balance out over the course of a semester. Students can only be enrolled in one X-Flex Payment Plan at a time. For the Fall and Spring semesters, student can choose a 4, 5, or 6-installment payment plan. For the Summer semester, there is only a 2 installment payment plan.

If a student is going to make monthly installment payments, the minimum amount that must be paid each month is the amount shown on the student's X-Flex Payment Plan schedule. Installment payments are scheduled in this manner:

 Plan Installment Due Dates Enrollment Fee Fall X-Flex 4 July  21, August 21, September 21, and October 21 \$45.00 Fall X-Flex 5 July 21, August 21, September 21, October 21, and November 21 \$45.00 Fall X-Flex 6 July 21, August 21, September 21, October 21, November 21, and December 21 \$45.00 Spring X-Flex 4 January 1, January 21, February 21, and March 21 \$45.00 Spring X-Flex 5 January 1, January 21, February 21, March 21, and April 21 \$45.00 Spring X-Flex 6 January 1, January 21, February 21, March 21, April 21, May 21 \$45.00 Summer X-Flex 2 May 21 and June 21 \$40.00

IMPORTANT NOTES: 1) Students can only be enrolled in one X-Flex Payment Plan at a time. 2) Graduating students will not receive their diplomas until their payment plan is paid in full.

The enrollment fee each semester is due and payable upon enrollment into the X-Flex Payment Plan. Please note that the monthly payment amount is subject to change based upon the student's behaviors/decisions. For example, the student may decide to move from a double room to a single room. This decision will create a charge to be put on the student's bursar account since a single room is more expensive than a double. As a result, the payment plan will automatically adjust by taking that charge, dividing it by the number of payments remaining on the X-Flex Plan and adding that incremental amount to the monthly amount due. Likewise, the opposite is true. If the student moves from a single room to a double and receives a credit for moving from a more expensive room into a less expensive room, then the X-Flex Plan will automatically recalculate the monthly payment amount and the payment should decrease. Best practices suggest that you check your payment plan payment schedule each month prior to making a payment so you can pay no less than the scheduled payment amount.

If any balance is due and unpaid, the student will be charged a late fee of 1% on the amount that is due and unpaid. Late fees will be assessed on the 28th of each month (or prior business day).

## Late Fees

Late fees will be assessed if a student is late in making the required payment on their bursar account. The dollar amount of the late fee will be determined by the type of payment option the student selected.

If the student has opted not to enroll in the X-Flex Payment Plan and therefore, plans to pay their bursar account balance in full each month on or before the Due Date but they don't pay on time, then the late fee will be 1% of the amount that is due and unpaid which is the total remaining balance. The late fee will be assessed on the 28th of each month (or prior business day).

If, on the other hand, the student has opted to enroll in the X-Flex Payment Plan, the Late Fee will be 1% of the amount that is due and unpaid which typically is one payment but could be more if the student is past due more than one month. The Late Fee will be assessed on the 28th of each month (or prior business day).

It's important to note that if a payment is posted to a student's bursar account on the same day that a late fee is posted, the late fee will not be reversed since a) this is a timing issue and b) the Due Date for the payment was the 21st of the month.